Assets belonging to Entain continue to be monitored by private equity giants, as a strategic review is ongoing at the operator.
Entain Continue To Be Monitored By Private Equity Giants
A recent report by The Sunday Times, a selection of private equite firms in the United States and CVC Capital are looking into business operations at Entain – as it searches for a conclusion to casino capitalism.
Entain Chairman, Barry Gibson, has left his role at the helm of Entain and it aims the sale of MGM Resorts before the end of 2024.
A new Chief Executive Officer is set to be announced in the near future per this recent report and will be a key factor in improving staff relations following a difficult year.
Moelis & Comapny were recently acquired by the board at Entain and the collabartion is set to help the CAC in evaluating corporate assets.
Moelis wills help Entain with the operators capital allocation committee and look to divert from certain businesses that have not been in alignment with the technological structure.
The brands that may be put up for sale include, BetCity based in the Netherlands, Ladbrokes in Australia, Sweden’s Enlabs and CrystalBet which resides in Georgia.
By selling brands like the ones previously mentioned, Entain would be able to switch its focus to markets in the United Kingdom and Germany – while also improving relations with MGM Resorts International across the US.
Entain did not just add Moelis to its advisory business, as it reportedly added Oakvale Capital to help claim the most amount of profit from the sale of it PartyPoker franchies – aiming for £150 million.
In November 2022, Entain’s capital allocation committee was created to help review the various group markets, verticals and brands “to help focus the organisation, improve competitive positions in core markets and maximise shareholder value”.
